NEW DELHI, Jan. 16 (Xinhua) -- Indian Navy Saturday said that the costs of the Admiral Gorshkov aircraft carrier have been more or less fixed by the Indo-Russian joint price negotiation committee and it's now awaiting for the government approval only.

"I cannot speak anything about the final pricing till the government's approval is announced. But, yes, for any of these major induction programs, we have a price negotiation committee, which has done its job and a mutually agreed price has been arrived at," Head of Indian Navy Admiral Nirmal Verma told the media in the national capital.

The two countries were said to have finalized the price for the Admiral Gorshkov aircraft carrier during Indian Prime Minister Manmohan Singh's visit to Russia last month.

Admiral Gorshkov was a modified Kiev class aircraft carrier of the Russian Navy, originally named Baku. In 2004, she was sold to India for conversion into a STOBAR carrier to be named INS Vikramaditya.

On Jan. 20, 2004, Russia had agreed to sell the Admiral Gorshkov to India, though payment details are still being worked out.

On Dec. 17, 2009, it was reported that India and Russia ended the stalemate over Gorshkov price deal by agreeing on a price of 2.3 billion U.S. dollars.